DEFINE WHAT STRATEGISTS ARE. DESCRIBE WHAT THEY DO IN AN ORGANIZA...

122) Define what strategists are. Describe what they do in an organization. Answer: Strategists are individuals who are most responsible for the success or failure of an organization. They help an organization gather, analyze and organize information. They track industry and competitive trends, develop forecasting models and scenario analyses, identify business threats and develop creative action plans. Strategic planners usually serve in a support or staff role. Usually found in higher levels of management, they typically have considerable authority for decision making in the firm. In the last few years, the position of chief strategy officer (CSO) has emerged as a new addition to the top management ranks of many organizations. This corporate officer title represents recognition of the growing importance of strategic planning in business. Diff: 2 Objective: 1.01 Discuss the nature and role of a chief strategy officer (CSO). Learning Outcome: Define strategic management and identify its basic concepts